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☆ More potential travel disruption as hundreds of Airbus jets to be inspected after Pratt & Whitney engine recall
▼ + stars: | 2023-07-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

1,200 Pratt & Whitney engines on Airbus A320neo jets will need to be removed for inspection. JetBlue, Spirit Airlines, and Wizz Air are among the airlines to be impacted. The company said a "rare condition" contaminated the powder metal used to make "certain engine parts" and it could cause cracks to form on critical engine parts, per The Wall Street Journal. Those Pratt & Whitney engines are used on about 40% of the twin-engine Airbus A320neo jets, per the Journal. An Airbus spokesperson said the company is working with its customers and Pratt & Whitney to minimize the disruption and implement the required inspection plans.

Persons: Greg Hayes, Pratt, Chris Calio, Calio, France24 Organizations: Pratt & Whitney, Airbus, JetBlue, Spirit Airlines, Wizz, Aerospace, RTX, Street, Reuters, Whitney, Pratt, Wizz Air, Boeing, Paris Air

[1/2] Model of a Pratt & Whitney GTF engine is displayed at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 20, 2023. Hawaiian Airlines warned it might have to adjust its capacity, but said it was too early to assess the impact. Spirit Airlines previously cut 2023 capacity estimates due to a lack of working GTF engines. A spokesperson said the New York-based carrier was working with Pratt to assess the impact of the latest problem. In a regulatory filing, the company previously warned it was "vulnerable to significant problems" associated with Pratt & Whitney's GTF engines.

Persons: Pratt & Whitney, Benoit Tessier, Pratt, Addison Schonland, RTX, Schonland, Peter Ingram, Scott Haralson, Whitney's, Wizz, Rajesh Kumar Singh, Tim Hepher, Valerie Insinna, Ben Klayman, Jamie Freed Organizations: Pratt &, International Paris Air, Le, REUTERS, Airline, Pratt & Whitney, Pratt, Airbus, Carriers, Spirit Airlines, JetBlue Airways, Hawaiian Airlines, Wizz, JetBlue, Thomson Locations: Le Bourget, Paris, France, PARIS, Pratt, Florida, New York, New York City, Chicago, Washington

Microscopic contaminants were found in a metal used in the engine's high-pressure turbine discs - part of the engine core. In an interview, Chief Executive Greg Hayes acknowledged the airlines' frustration over a spate of problems with the Geared Turbofan (GTF) engines over the last seven years. While the latest GTF issue could be the last straw for some, we suspect that the negative (share price) response is overdone". Low-cost Indian carrier Go First, which plunged into financial crisis this year, blamed "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neos. Announcing quarterly earnings on Tuesday, RTX increased its 2023 sales expectation from $72 billion to $73 billion to $73 billion to $74 billion.

Persons: Whitney, Pratt, Greg Hayes, Safran, RTX, Robert Stallard, Wizz, Hayes, Pratyush Thakur, Valerie Insinna, Mike Stone, Susan Mathew, Rajesh Singh, Tim Hepher, Shounak Dasgupta, Sharon Singleton, Nick Zieminski Organizations: Pratt, Airbus, U.S, RTX Corp, Raytheon Technologies, CFM International, GE, Reuters, Research, Spirit Airlines Inc, JetBlue Airways, Wizz, Thomson Locations: Paris, Bengaluru, Washington, Chicago

While global supply networks recover from the pandemic shock, fresh impetus is coming from tougher environmental standards, which drive companies to invest in new technologies to reduce their and their suppliers' emissions. "So in battery, steel, aluminum and cast iron we will only source green materials and technologies by 2030," Foller told Reuters. The foundation told Reuters it would also consider further investments in producers of steel, construction and green aluminium produced with hydropower or from recycled materials. Scania said that following its 10 million euro ($11.15 million) seed investment in H2GS in 2021, it has entered a steel supply agreement from 2027. While companies will keep investing in their suppliers in the short to medium term, the market will eventually reach saturation, said Jon Chadwick, global energy transition lead at PricewaterhouseCoopers.

Persons: Andreas Follér, Foller, Rebecca Campbell, China's, Scania's Foller, Britain's, They're, Maybel Saleh, Case's Campbell, Jon Chadwick, Clara Denina, Sarah McFarlane, Helen Reid, Veronica Brown, Tomasz Janowski Organizations: IKEA, Climate Tech VC, Scania, Reuters, White &, Export, GM, IMAS Foundation, Airlines, EMEA, Citi . Supply, Equity, PricewaterhouseCoopers, Thomson Locations: Ukraine, China, Russia, Beijing, Sweden, Swedish, H2GS, Norway, Germany, Indonesia, Britain, Bristol

☆ Wizz Air apologizes after a video appears to show a Ukrainian soldier with an amputated leg being kicked off a flight
▼ + stars: | 2023-07-10 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A video appears to show a Ukrainian soldier with an amputated leg being told to get off a Wizzair flight. The soldier complained he could not sit down because of his prosthesis, the video caption said. WizzAir apologized in a statement, saying the passenger was kicked off for safety reasons. Wizz Air has apologized after a video appeared to show a Ukrainian soldier with an amputated leg being kicked off a flight while he was traveling to be reunited with his family. "In this instance, it was a difficult but necessary decision taken with passenger's safety in mind."

Persons: WizzAir Organizations: Morning Locations: Ukrainian, Tel Aviv, Israel, Warsaw, Poland, Ukraine

☆ Ryanair aiming for at least 50% growth in east, central Europe
▼ + stars: | 2023-06-27 | by ( Alan Charlish | ) www.reuters.com time to read: +2 min

[1/2] FILE PHOTO-General view of the Ryanair logo at their headquarters in Dublin, Ireland, September 16, 2021. "We want to focus very much on this region," Alicja Wojcik-Golebiowska, the CEE and Baltics country manager for Ryanair told Reuters in an interview. "We see that central and eastern Europe was a little bit left behind in last years. Hungarian budget airline Wizz Air will be its main competitor as it offers similar cheap fares, as well as connections to the Middle East. She said the company was also aiming for a dominant position in countries like Romania, Bulgaria and Hungary.

Persons: Golebiowska, Alan Charlish, Joanna Plucinska, Mark Potter Organizations: Ryanair, REUTERS, Wizz Air, Europe's, Boeing, Reuters, Wizz, Irish, Airlines, Thomson Locations: Dublin, Ireland, WARSAW, Europe, Poland, Spain, Italy, Romania, Bulgaria, Hungary, Warsaw, London

☆ Meet the traveler behind social media’s viral packing hacks
▼ + stars: | 2023-06-26 | by ( Francesca Street | ) edition.cnn.com time to read: +7 min

That’s where packing expert Chelsea Dickenson steps in. Take, for example, Dickenson’s viral fishing vest packing hack, in which she travels with a multi-pocketed, zip-up vest designed for fishing equipment. Not in a normal jacket – so why would you do it in a fishing vest? Courtesy Chelsea DickensonThe fishing vest is just one of several packing hacks Dickenson’s shared with her thousands of followers on TikTok and Instagram. Rather than packing random clothes, she’s got daily outfits ready to go.

Persons: CNN —, Chelsea Dickenson, ” Dickenson, Dickenson, ”, Here's Chelsea Dickenson, Dickenson’s, she’s, Chelsea Dickenson Dickenson’s, “, ” Chelsea Dickenson, cheapholidayexpert.com Dickenson’s, ’ ”, she's, She’s, I’ve Organizations: CNN, CNN Travel, Wizz Air, ” Locations: London, Lisbon, ”, TikTok, Vienna, Dickenson’s

☆ The world’s most eco-conscious airlines
▼ + stars: | 2023-06-16 | by ( Elissa Garay | ) edition.cnn.com time to read: +12 min

CNN —Most sustainability experts will scoff at the idea of “sustainable” and “airlines” in the same sentence. In 2022, an Airbus wide-body Beluga XL transport aircraft was filled with Sustainable Aviation Fuel" (SAF) for the first time. WiderøeNorway-based Widerøe, the largest regional airline in Scandinavia, says it is on track to become one of the world’s first fully emissions-free airlines. Alaska AirlinesAlaska Airlines has invested heavily in Sustainable Aviation Fuels (SAF). AaronP/Bauer-Griffin/GC Images/Getty ImagesWhile most major global airlines are targeting 2050 for net-zero carbon emissions, Alaska Airlines intends to meet that target as soon as 2040.

Persons: ”, Pedro Piris, Sola Zheng, Sina Schuldt, Nicolas Jammes, ” Akbar Al Baker, “, Zheng, –, that’s, it’s, Beata Zawrzel, Fabrizio Gandolfo, Nicolas Economou, Bauer, Griffin, It’s Organizations: CNN, Environmental Defense Fund, International Council, Clean Transportation, Commercial, International Air Transport Association, UN, Airbus, Beluga XL, Sustainable Aviation, Qatar Airways, SAF, European Union, Google, Environmental Defense, Airlines, United Airlines United, Aerospace, United, Flight Fund, Widerøe Norway, Widerøe, Royce, SAS SAS, Scandinavian, SAS, Wizz, Wizz Air, Etihad Airways Etihad, Getty, Etihad Airways, United Arab Emirates, Boeing, Etihad, Alaska Airlines Alaska Airlines, Aviation Fuels, AaronP, Alaska Airlines, Air Canada Canadian, Air Canada Locations: Europe, Denmark, Sweden, ICCT, Scandinavia, Norway, Canada

☆ UBS loves this low-cost global airline and expects its shares to rise 50% in the next year
▼ + stars: | 2023-06-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has upgraded Wizz Air to a buy rating, forecasting 50% growth in the pan-European airline's stock over the next 12 months. The London-listed company is a low-cost airline operating from nearly 40 airports and flying to over 50 countries. Wizz Air shares are already up by 50% this year, and UBS analysts expect the stock to increase by another 50% to £43 ($54.47) a share over the next 12 months. Deutsche Bank analysts raised their price target for Wizz Air to £37 but reiterated their "hold" rating on the stock. Deutsche analyst Jaime Rowbotham lowered the bank's forecast for the number of passengers flying Wizz Air next year by 3%, in contrast to its upgraded forecast for rival Ryanair , Europe's largest airline.

Persons: Jarrod Castle, Wizz, Jaime Rowbotham, Rowbotham Organizations: UBS, Wizz, Deutsche Bank, Wizz Air, Air, Ryanair, Europe's Locations: London, Central, Eastern, Swiss, Frankfurt, United States, Wizz

☆ London stocks inch higher on mining and energy push; Vodafone slumps
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 flatJune 8 (Reuters) - UK's main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains. The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed. Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit. Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year. ($1 = 0.9344 euros)Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Crest, Ankika Biswas, Rashmi Organizations: British, Vodafone, Reuters, Hutchison, HK, Wizz, Crest Nicholson Holdings, Thomson Locations: Bengaluru

☆ Profitability is returning, says Wizz Air CEO
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProfitability is returning, says Wizz Air CEOJózsef Váradi, CEO of Wizz Air, discusses the company's results and how the sector is recovering from significant volatility.

Persons: József Váradi Organizations: Wizz

☆ Biden Wants Airlines to Pay Passengers for Delays. In Europe, they already do
▼ + stars: | 2023-05-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +2 min

“Airlines already have financial incentives to get their passengers to their destination as planned,” Willie Walsh, the director general of the International Air Transport Association, a lobbying group, said in a statement criticizing the Biden plan. Europe’s air passenger rights regulation hasn’t been a panacea. Mr. Zenere, for example, is still arguing with Wizz Air, the airline that delayed his trip to Venice last year. — Bernhard WarnerTell us what you think: What changes would you like to see introduced to make the air travel experience smoother? Yaccarino, who was NBCUniversal’s head of advertising, will take over a company that has struggled to expand its ad business.

☆ Wizz Air to suspend Moldova flights, citing security
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Wizz Air said in a statement it would lay on extra flights from the Romanian city of Iasi as replacements, including a new service to Berlin, and more flights to Barcelona, Milan Bergamo, Bologna, Rome Ciampino, Rome Fuimicino, Dortumand, Larnaca, London Luton and Treviso. Flights to Budapest and Prague will not be replaced and those inbound to Chisinau will be reallocated to other destinations in the Wizz Air network, it said. Tensions between Russia and Moldova have grown in recent months as Russian missiles aimed at Ukraine have entered Moldovan airspace and authorities have blamed the Kremlin for fuelling anti-government protests, something it denies. It said the civil aviation authority and the ministry of infrastructure and regional development had been in "constant cooperation" with Wizz Air representatives and informed them of the procedures in place to ensure aviation security. The aviation authority would take "all necessary actions" to return Wizz Air to Chisinau airport as soon as possible, and to attract other low-cost airlines.

☆ TUI sees strong summer bookings as travel recovery gains momentum
▼ + stars: | 2023-02-14 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Feb 14 (Reuters) - Holiday group TUI (TUIGn.DE), said on Tuesday it was seeing a positive travel recovery trend for the upcoming summer season as holidaymakers make plans to enjoy their breaks following a pandemic hiatus. Upcoming bookings for the 2023 winter and summer seasons hit 8.7 million. Low-cost airlines such as Ryanair, Wizz Air and easyJet all reported strong summer bookings earlier this year. Revenue improved by 1.4 billion euros to 3.8 billion euros year-on-year, with a growth of around a million guests to 3.3 million from the previous quarter. Separately, TUI shareholders are expected later on Tuesday to vote on a capital increase plan to repay Germany's Economic Stablisation Fund.

☆ Ryanair posts record Christmas quarter, sees 'very robust' summer demand
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday posted its largest after-tax profit for the October-December quarter and said bookings for Easter and summer flights in recent weeks were "very robust", boosted by demand from Asian travelers and a strong U.S. dollar. "We had record bookings in week two and week three of January, very robust demand into Easter and the summer without fare stimulation," he said. The Irish airline, Europe's largest by passenger numbers, said it had earned 211 million euros ($229.40 million) in the three months ended Dec. 31, the third quarter of its financial year. "With Asian tourists now returning and a strong U.S. dollar encouraging Americans to explore Europe, we're seeing robust demand," Chief Executive Officer Michael O'Leary said in a statement. Last week, rivals Wizz Air and EasyJet reported strong summer bookings.

☆ Wizz Air says average fares up, bookings rise
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

LONDON, Jan 26 (Reuters) - Hungarian budget airline Wizz Air (WIZZ.L) said average fares for 2023 were higher than last year on booking volumes which were also ahead. The airline said its revenue more than doubled to 911.7 million euros ($994.3 million) in the three months to end-December, while passenger numbers increased 59% to 12.39 million. Chief Executive József Váradi said Wizz Air was continuing to see evidence of strength in ticket prices and ancillaries. "As we reach the end of January, we are seeing booking volumes coming in ahead of 2022, which is in line with expectations," he said on Thursday. ($1 = 0.9169 euros)Reporting by Sarah Young, Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Wizz Air sees strong summer, but more wary than rivals
▼ + stars: | 2023-01-26 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

[1/2] People stand next to a Wizz Air aircraft at Ferenc Liszt International Airport in Budapest, Hungary, August 18, 2022. Low cost rivals Ryanair (RYA.I), Europe's biggest airline, and Britain's easyJet (EZJ.L) have reported record bookings for summer holidays, in a sign that consumers are still keen on trips despite a looming recession. Asked if Wizz had seen the same, CEO József Váradi said: "Bookings are strong, but I don't want to get over-excited." Separately on Thursday, British airline and holiday group Jet2 (JET2.L) upgraded its annual profit forecast after strong demand for winter holidays and said bookings for the summer were encouraging. For the new financial year, Wizz will benefit from hedging and new capacity, forecasting growth of 25% to 30% this summer versus last, helping unit costs to improve.

☆ Europe Inc earnings offer market optimists more hope
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +5 min

Shares in ASML were lower after the results, having rallied recently to hit their highest since last April. Helped by strong orders in Europe, French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales. While it is still early in the corporate earnings season, the results offer some hope that recent economic data which has buoyed equities this month is grounded in reality. Swiss asset manager GAM (GAMH.S) meanwhile warned on profits after experiencing negative asset flows, knocking its shares 2.5% lower in early morning trading. ($1 = 0.8115 pounds)Reporting by Reuters newsroom; Writing by Josephine Mason; Editing by Catherine EvansOur Standards: The Thomson Reuters Trust Principles.

[1/2] FILE PHOTO-Planes of German air carrier Lufthansa are parked as Lufthansa pilots start a strike over a wage dispute, at the airport in Frankfurt, Germany, September 2, 2022. REUTERS/Kai PfaffenbachROME/FRANKFURT, Jan 18 (Reuters) - German carrier Lufthansa (LHAG.DE) said on Wednesday it had offered to buy an minority stake in ITA Airways, betting on reviving the loss-making successor to Italy's Alitalia and expanding its footprint in Europe. One of the sources said it was valued at 200-300 million euros ($540 million). The new right-wing administration in Rome passed a decree in December to initially sell a minority stake through capital increases, in order to speed up a full divestment in ITA. "Acquiring ITA is one of the most challenging propositions in European aviation: the airline has been persistently loss-making," said Bernstein analyst Alex Irving.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Ryanair hails 'very strong' recovery with record summer profit
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

The Irish airline, Europe's largest by passenger numbers, earned 1.371 billion euros ($1.36 billion) in the six months to the end of September, the first half of its financial year. While that was just short of a forecast of 1.385 billion in a company poll of analysts, it was well ahead of its previous first-half record of 1.29 billion euros in 2017. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. Profit and traffic are poised for "very strong growth" until 2025 assuming oil prices remain relatively stable, he added in a video presentation. However, while the airline is planning for the deliver of 51 737 MAX aircraft by next summer, O'Leary said he was concerned Boeing might fall short.

☆ Ryanair reports record summer profit, sees 'very strong' recovery
▼ + stars: | 2022-11-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

Ryanair earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. While the winter will be loss-making, Ryanair expects an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31, though that forecast remains "hugely dependent" on no adverse shocks. "Concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated in recent months," O'Leary said in a statement. "We expect these strong fundamentals will continue to underpin robust traffic and average fare growth for the next 18-months at least," he said. In a pre-recorded video presentation he predicted very strong growth in profit and traffic over the next three years assuming oil prices remain relatively stable.

☆ Ryanair posts record profit for key summer season
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 7 (Reuters) - Ryanair (RYA.I) on Monday posted its largest ever after-tax profit for the first half of its financial year, which includes the key summer months, and said it hoped to post a profit of at least 1 billion euros for its full financial year. The Irish airline, Europe's largest by passenger numbers, said it had earned 1.371 billion euros ($1.36 billion) in the six months to the end of September. That compared with a forecast of 1.385 billion in a company poll of analysts and its previous first-half record of 1.29 billion euros in the six months to end-September 2017. Ryanair said it was hopeful it could deliver an after-tax profit of between 1 billion and 1.2 billion euros for the year to March 31. ($1 = 1.0053 euros)Writing by Conor Humphries; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Wizz Air eyes more growth, sees travel demand holding up
▼ + stars: | 2022-11-02 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

Wizz's upbeat forecast chimes with the outlook from other European airlines including British Airways-owner IAG (ICAG.L) and Lufthansa (LHAG.DE), which have all said they are seeing continued growth in ticket sales. Chief executive Jozsef Varadi said on Wednesday that bookings were holding up strongly: "So far we are seeing no indication of a drop in demand so we remain confident." But it is lower than the 40% capacity growth that analysts had been expecting, reflecting Wizz's caution over the resilience of its operations following airport disruption which hurt it last spring, and partly to protect unit revenues. "You obviously have a company which is going for a lot of growth in this type of market," he said. "I don't think we are a target, or we can be a target on that basis," he said.

☆ Wizz Air plans to grow by 35% as travel demand holds up
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 2 (Reuters) - Budget airline Wizz Air (WIZZ.L) said it planned to grow its capacity by 35% in the six months to the end of March as demand for travel remained strong despite the pressure on household budgets from inflation. "So far we are seeing no indication of a drop in demand so we remain confident," chief executive Jozsef Varadi said on Wednesday. Hungary-based Wizz posted core earnings for its seasonally strong June-September quarter of 374 million euros ($369 million). That represented a recovery from the previous period when staff shortages at airports dragged the airline to a loss. Overall the airline posted an operating loss of 63.8 million euros for the March to September half.

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